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Guilds
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∙ 8y ago
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∙ 9y agoguilds
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Who governed prices and wages in towns?
Guilds
Why does globalization lead to a reduction in prices for goods and services?
Competition for jobs drives down wages, which helps companies lower their prices.
When firms begin to pay higher wages to keep their current employees and attract new employees what happens as a result of the increased wages?
Prices of goods and services increase, leading to an economic slowdown.
An increase in the supply of labor will?
In a free-market an increase in the supply of labor will reduce wages and increase unemployment. It will also lower the price of produced goods as wages decrease. This effect is complicated by minimum wage laws. If wages cannot decrease due to legislation the effect will simply be an increase in unemployment and prices in the short run will remain static. If the population increase is significant it is possible for the price of goods to increase due to the increased demand for consumer goods.
What do you call a general rise in prices?
A sustained increase in the cost of goods and services is called inflation. If wages do not rise at the same rate, people begin to struggle to meet basic needs.
Governed prices of goods and wages in towns.?
guilds
What word is governed prices of goods and wages in towns?
Guilds
Who governed prices and wages in towns?
Guilds
Who was a Roman emperor who orders prices and wages frozen?
DiocletianThe emperor Diocletian issued the Edict of Maximum Prices, which set a ceiling for the prices of goods. He did not freeze wages.
Why does globalization lead to a reduction in prices for goods and services?
Competition for jobs drives down wages, which helps companies lower their prices.
What is it called when prices of goods and wages are established by the forces of supply and demand?
free market, laissez-faire
When firms begin to pay higher wages to keep their current employees and attract new employees what happens as a result of the increased wages?
Prices of goods and services increase, leading to an economic slowdown.
What was the rise of consumerism aided by?
the answer is to lower prices for manufactured goods
According to Adam smith how should wages and prices be regulated?
Adam Smith believed that wages and prices should be regulated by the forces of supply and demand in a free market economy. He argued that competition among employers and workers would naturally adjust wages and prices to levels that reflect the true value of goods and services. This concept is known as the invisible hand of the market.
An increase in the supply of labor will?
In a free-market an increase in the supply of labor will reduce wages and increase unemployment. It will also lower the price of produced goods as wages decrease. This effect is complicated by minimum wage laws. If wages cannot decrease due to legislation the effect will simply be an increase in unemployment and prices in the short run will remain static. If the population increase is significant it is possible for the price of goods to increase due to the increased demand for consumer goods.
Why do workers in company towns feel they worked in a system of wage slavery?
Workers in company towns feel like they work in a system of wage slavery because they are economically dependent on their employer due to limited job opportunities in the area. The company controls various aspects of their lives, such as housing and goods prices, reducing their freedom and bargaining power. Additionally, the low wages and poor working conditions exacerbate feelings of exploitation and servitude.
Was a roman emperor who ordered prices and wagons frozon?
Diocletian issued the Edict of Maximum Prices which put a cap on prices. He did not freeze wagons. if you mean wages, he did not put a cap on wages.
